ELEPHANT Honeypot

Reported loss Not disclosed
BNB Chain
Honeypot

What happened

ELEPHANT (ELEPHANT, 18 decimals) on BNB Chain overrides transferFrom with a gate that blocks it unless a trans flag is on or the deployer is a party to the transfer. trans starts as false, and only a holder of MINTER_ROLE can change it with setTrans. A holder selling through a router moves tokens with transferFrom from the holder to the pair, which none of the allowed cases cover, so that call reverts.

De.Fi's REKT database lists the token as an Exit Scam/Honeypot dated 2021-05-19 and says the contract owner could disable the transfer function, which restricted users in selling their tokens. No loss amount or transaction showing the block in use was verified.

How it happened

  1. The constructor stores the deployer in moi, sets trans = false, grants the deployer DEFAULT_ADMIN_ROLE, PAUSER_ROLE and MINTER_ROLE, mints 1000000000000 * 10 ** decimals() to the deployer and creates the pair with the router's factory.
  2. transferFrom is overridden with require (trans || moi == sender || moi == recipient || sender == UNI);, where UNI is uniswapV2Pair. With trans false, only transfers where the deployer is sender or recipient, or where the pair is the sender, pass.
  3. A sell through a router calls transferFrom with the holder as sender and the pair as recipient. None of the four conditions holds, so the call reverts with no message and no balance changes. transfer is not overridden and is gated only by the pause check, so tokens leaving the pair in a buy are not stopped by this line.
  4. The MINTER_ROLE holder can turn the gate off with setTrans(bool value), mint more with piocher(address to, uint256 amount), and the PAUSER_ROLE holder can call pause(), after which _beforeTokenTransfer is whenNotPaused and all transfers revert.
  5. renounceOwnership() and lockLiquidity() only emit the events OwnershipRenounced and liquidityLocked; neither changes any role or moves any liquidity.
  6. What happened is limited to what De.Fi's REKT database lists: an Exit Scam/Honeypot on 2021-05-19. The Token Sniffer proof page could not be read and no transaction was opened.

Protocol details

Classification Exchange (DEX)
Protocol Type Exit Scam/Honeypot
Affected asset / contract ELEPHANT

Evidence

Same attack technique

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